New Funding Fuels Rapid Global Expansion and Product Acceleration of Ad-Lib’s Intelligent Automation Platform to include Video and Social Capabilities
LONDON, UK and BOSTON, MA, February 16, 2021/ — Ad-Lib.io, the next generation Creative Management Platform for marketers at the world’s largest brands, today announced the successful close of an add-on $6 million Series A financing round, bringing the company's total Series A funding to $12 million. The new funds will be used to accelerate the company’s platform and global expansion.
Ad-Lib’s Creative Management Platform connects creative and media workflows using intelligent automation that makes it easy to produce and optimize relevant ad creative across all digital channels. Ad-Lib.io brings DCO, CMP and creative analytics technology together in a single omni-channel platform and works with 10 of the top 30 global advertisers. Benefits include ads that are 60% more cost-efficient to produce, campaigns that are 80% faster to launch and up to 250% greater return on ad creative.
"Closing a significant Series A round during these uncertain times further validates Ad-Lib.io’s disruptive approach to bringing a cookie-less, privacy-friendly platform to brands and their agencies that removes operational complexity and avoids unwanted process change,” said Oli Marlow Thomas, Founder of Ad-Lib.io. "We are excited to work with our world-class investors to bring our platform to market as fast as possible to achieve our mission."
Both parts of the Series A raise were led by Fog City Capital, a leading venture capital firm based in San Francisco, with a specific focus on technology and services companies in the marketing value chain.
"As early investors in transformative technology companies, we have seen how cutting-edge platforms like Ad-Lib.io drive significant value to their markets and customers," said Fog City Capital Partner Ravi Bhaskaran. "We were impressed at the rapid momentum at Ad-Lib.io, even during a pandemic and decided to double down our commitment to the stellar team. We strongly believe in Ad-Lib.io’s vision to bring together all the pieces needed to do better creative at scale.
Despite the pandemic, 2020 was a pivotal year. The company signed on new customers across the globe including Nestlé and Deliveroo. Bookings grew by 280% and more than 1,350 campaigns were executed on the Ad.Lib.io platform. Over the same time period, the company also made key hires around the world, expanded into Hong Kong and Boston and added a number of new capabilities to its innovative platform.
Ad.Lib.io Creative Management Platform updates made throughout 2020 include:
Over the next twelve months, Ad-lib.io will remain laser focused on ensuring clients have the solutions that need to tell their stories online in the most efficient, relevant and agile way, no matter where their audiences happen to be.
Ad-Lib.io provides the leading next-generation Creative Management Platform for marketers at the world’s largest brands to enable them to scale their digital creative. Ad-Lib.io connects creative and media workflows using intelligent automation, making it easy and fast to produce and optimize relevant ad creative across all digital channels. These ads are 60% more cost-efficient to produce, according to Ad-LIb.io’s customers which include 10 of the top 30 global brands. The venture-backed company, headquartered in London, UK, was founded by former Google executives who understood the need to close the wide gap between creative concepts and digital media execution.
About Fog City Capital
Fog City Capital is a venture capital firm that invests in early to mid-stage technology and services companies. Fog City partners with management to grow software and services firms into industry leaders. We combine our experience of founding and growing companies, with executive leadership skills running large organizations. Our networks and relationships in our industry focus areas, and a willingness to roll-up our sleeves to partner with management, helps us to rapidly scale organizations to build shareholder value.
Fog City's primary co-investor is Senvest Capital (SEC.TO), a publicly traded financial group.